We are eagerly waitng to lay our eyes on the successor to the legendary McLaren F1 hyper-sportscar. Christened as the P12, the next claim to fame from McLaren will be officially unveiled at the 2012 Monaco Grand Prix in May. Currently, the manufacturer is making last minute minor changes and is fine tuning the car. Beneath the hood of the P12 will be a 3.8L V8 twin turbo engine that will be borrowed from the MP4-12C. However, McLaren is sure to re-tune the motor to extract 800 horsepower. The car will also feature a Kinetic Energy Recovery System KERS) for additional 120 bhp. The P12 should tip the scales at about 1,140 kgs and is expected to be launched by 2014. The car should command a price of €750,000 ($1 million).